Central Europe-based miner New World Resources Plc (NWR) has announced that it has reached agreements with its customers for coking coal sales for the fourth quarter of the current year.
Accordingly, NWR has set the average agreed price of coking coal for delivery in the fourth quarter of this year at €85/mt, up four percent compared to the third quarter realized price.
NWR has also announced its production and sales results for the third quarter. In the given period, the company produced 1.83 million mt of coking and thermal coal, while its coking coal sales reached 1.1 million mt. In the first nine months of the current year, NWR produced 6.33 million mt of coking and thermal coal, while its coking coal sales amounted to 3.64 million mt.
The company has revised down its coal production and sales guidance for 2014 from 9-9.5 million mt to 8.75-9 million mt, with 55-60 percent of coking coal in the sales mix.